LIC Jeevan Anand Or PPF + Term insurance : Which Is A Better Option.

Dear Vijay, Term insurance is a must have financial product  if an individual is an earning member of the family and/or has financial commitments/obligations.  So, kindly go ahead and buy a Term plan at the earliest. Once you take a sufficient term life insurance cover, I believe that there is no need to buy any another traditional plans like money-back or endowment plans like Jeevan Anand. Once your life insurance requirement is taken care of, you can allocate your disposable income for your other financial goals. PPF is one of the best debt oriented product. But, do you contribute to EPF scheme? May I know if your financial goal(s)? Is yous spouse an earning member of your family? Suggest you to go through below articles and you may revert to me;

• Term insurance Vs Traditional life insurance plans?
• If life is UNPREDICTABLE, insurance can't be optional.
• The 6 most common Personal Finance mistakes..

Dear Vijay, (based on your Private question, below are my replies..) If both of you contribute to EPF then you may ignore PPF. Kindly do not mix insurance & investment. One can not accumulate by INVESTING in insurance. Insurance policies are for covering risk and not for making profits. So, once you buy term plan, health cover & personal accident cover, you can concentrate on building on long-term wealth by investing in other investment options. Considering the current rate of inflation, one needs to invest in equity oriented products to accumulate wealth. Read:

• What is inflation?
• Why one should avoid investing in FDs/RDs for longer period?
• How to create solid investment plan?
• List of best investment options.
• Retirement planning calculator.